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Sam Bougheda

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Everything posted by Sam Bougheda

  1. Sam Bougheda

    Legal means

    Hi Prince... Are you able to provide more details on the broker and what happened? If they have somehow stolen money from your bank account then you should report it to the relevant authorities, I am guessing they aren't a regulated broker, but in any case you should also contact the local financial authority as well. If you can provide more details we will be able to advise further, although I have to warn you, that with unregulated brokers it can be extremely hard to get your money back that you deposited into their platform
  2. Hi Komu. I just wanted to add to this that the 'CFD market' is not a market. it is a type of trading called a contract for difference, whereby you you and another party enter a contract to speculate on where you think the price of an asset is heading. just regarding the comment above. When trading CFD's the broker you choose is the market maker. They give you the price to buy and sell.
  3. Sam Bougheda

    About trading

    Hi Sero. to get started learning about fores I would suggest checking out the babypips.com website. It is helpful in educating new traders about the basics of the forex markets and understanding terminology etc. You can then look for basic trading strategies to demo (we have a several broker reviews that will tell you if the company offers a practice account). If I were you, I would then look to start understanding basic economics or macroeconomics to understand why currencies may move in certain directions and the reasons for certain moves. There are some good books available on the subject. Use news sources and analysis to learn (they have both of those here on AskTraders) and understand how other people trade. AskTraders also have a youtube channel with some basic concept videos available along with analysis. But your first port of call should be babypips.com and the AskTraders Youtube channel to learn the basics. Now, I noticed you mentioned that you want to "change your life one day". I have to be honest with you and say that if you are looking for instant rewards then this isn't it. It can take years to become just a little bit profitable and even then profits aren't guaranteed. It will be one of the hardest things you will ever try to learn, but if successful you can do well. If you have any more questions just send them over. I'll be happy to help 🙂
  4. Hi Jessica. I don't know too much about the space but I know there is a crypto index traded on the toronto stock exchange I believe (could be completely wrong). I also found this on the CMC website... https://www.cmcmarkets.com/en-gb/cryptocurrencies/crypto-index Hope it helps
  5. I saw there have been a couple of answers but I just wanted to add to Simons answer here. I agree with what he is saying, cryptos will come in but they will be issued by central banks and controlled by central banks. Essentially meaning that rather then them being digital currencies in the sense of deregulation and anonymity they are just the same as before but with no cash (which defeats the point). I also think they will come in as a way to reduce the dollars valuation and therefore offer a way for countries with extreme amounts of dollar denominated debt to still be able to repay. just wanted to add my 2 cents in!
  6. Hi Ramdas. Unfortunately I don't speak your language...I tried google translate and it helped a bit. And I believe you have a problem with withdrawing from Octafx? As far as I can see they don't look regulated, so make sure to check them out thoroughly. Would you be able to provide more details in English, sorry for the inconvenience!!
  7. Hi Penninah, in normal circumstances you would see dollar liquidity which would lead too a decrease in the dollars value, which we have seen in the last few weeks with risk sentiment shifting slightly. However, due to the risk off nature we have seen in the last few months because of the coronavirus the dollar has surged due to it being a safe haven.
  8. Again, sorry for the delay in getting back to you my man!
  9. when it comes to hotforex, they are regulated by the FCA which is a positive. But, looking at customer reviews I would say to just be wary. I cannot be sure of course but there seems to be a lot of fake positive reviews and there are quite a few negative. So while they seem legit, it doesn't automatically make them a fantastic broker
  10. Hi Samarjit. So sorry I just noticed your questions. A broker that trades for you and promises profits is usually a scam. I would suggest using someone like eToro's copy trading function and following successful traders on there. You can check them out here - https://stocks.etoro.com/en/commission-free/v1?dl=30002119&utm_medium=Affiliate&utm_source=75185&utm_content=11737&utm_serial=Asktraders.com-EN-EIP&utm_campaign=Asktraders.com-EN-EIP&utm_term=
  11. Hi Ganda I haven't seen this issue before but have you tried using another browser? you should be able to use both at the same time. If you are having trouble I would suggest contacting your broker hotforex for help and they should be able to assist you
  12. Sam Bougheda

    Scam

    Hi Karol I have had a look on their website and they don't seem to be regulated or even legitimate. Are you able to tell me a few more details? Was £20k your initial deposit size? have they given you a reason why you can't withdraw?... I have never heard of them before, and there is not a lot of detail on their website regarding their history. If it is as you say an they are a scam then it will be extremely hard to recover your funds I am afraid. The only pointers I could give you would be to threaten to leave terrible reviews everywhere, Oh, one other question, which country are you based in? Sometimes threatening to get the relevant financial authority involved could help you. But it is only a slim chance that it will work
  13. Sam Bougheda

    SNB and CHF

    Hi cody. Yes I would suggest looking at the SNB's weekly sight deposits. a rise in sight deposits suggests that the SNB is interfering more in FX markets and the CFH in particular. A drop suggests they are reducing their interference
  14. Sam Bougheda

    Gold

    Hi Mohammed. It was mainly due to the risk on sentiment in the market. Yesterday we saw most risk on assets rise. And, we are seeing the same again today... It seems to me to be a case of a lack of bad news meaning there is only one way to go, up.
  15. Sam Bougheda

    EuRCHF

    HI Sam There were a couple of reasons for this. Firstly, the Swiss national bank has been trying to weaken the currency as they don't like it getting too expensive because they want their exports to remain attractive to foreign buyers. So to do that they will purchase foreign currencies to weaken the franc. Secondly Germany and France announced they had agreed a euro fund to combat the ecponomic fallout of the coronavirus. This is something that had been weighing on the euro for the last few weeks as there appeared to be a split between in the bloc. As a result we saw the EURCHF surge
  16. Hi Myles. there are two types really, and I hope this is what you are referring to. Dealing desks and no dealing desks. Dealing desk brokers will take the other side of your trade, so are essentially trading against you. But they will only take the other side if there are no matching orders to take the other side. no dealing desks don't do this, they will look to find a way to match your trade with someone taking the other side. They can also be split into ECN and STP brokers but that may be a bit too in depth for now.
  17. Hi Nicholas I would suggest investing. Day trading is extremely strenuous and can take its toll. Not to mention the fact that it can take years of losing money before you even become profitable, and there is no guarantee that you will be profitable. When day-trading you are up against so many factors such as experienced pros, trading algorithms, big banks and trading institutions with an even bigger bankroll. Trading is essentially an individual sport with everyone trying to take your money from you. Investing will give you a bit more piece of mind and you will be looking on a bigger time frame, meaning you won't have the need to check price constantly. Trust me when I say you will save yourself a lot of time, stress and money if you stick to investing. You will of course need knowledge to invest as well though 😉
  18. Hi Lindsay. A CFD is a 'contract for difference'. you are essentially able to profit from the movement of an asset without actually owning it. So it is basically a contract between you and the broker. The majority of brokers allow you to trade them, depending on the location you are in, for example you can't trade CFD's in the US. It would merely be a case of opening an account with a broker that allows you to trade them and then choosing the market you want to trade. I would suggest opening a demo account before you begin and learning as much as possible. If you head to the compare section of the site you will be able to view and compare CFD brokers to choose the best one for you
  19. Hi mate, I'm afraid that seems to be another dodgy company. Most of the reviews online talk about people being scammed by them and they make no mention of regulation. Are you looking for a certain type of broker?
  20. Hi Samarjit. There is next to nothing about this broker online. other than its own website and some domain checkers. But, I did check the domain to see when it was registered and it says 2020. However, their website says the company began in 2009. Unless they were trading under a different name that is a red flag. The next one and probably the most important is regulation. They make no mention of regulation on their site as far as I can see. Another big warning sign. The third strike is what you have said in your question. No broker will ask you for that much to get your money. They may charge a withdrawal fee but that will be listed on their website and will not be an extortionate amount. Do not trust this broker mate. DON'T PAY THE MONEY. They are more than likely a scam. If you want to find a reputable broker then reply and let me know and I will suggest some for you. Or you can check out some of the broker pages on the site here. They all have reviews so you can see which one suits you best. https://www.asktraders.com/broker/forex/
  21. Hi @iwantmoney technically It could, but in my opinion it is highly unlikely, although not implausible. there are a lot of people out there who believe the euro could cease to exist at some point so I guess then we could see it plummet. In my opinion I dont see it happening, but hey, never say never i guess
  22. HI Maria. This may sound cliched but my tip would be to track absolutely everything. It was only when I began to look at my trades in depth that I started to see what works for me, what markets I trade best, what setups I trade best etc. I also bought a program to help me do this and it really helped me to improve as a trader. There are a few different programs available online, but I would definitely suggest utilising one for your trading.
  23. We did see price head further down, to 1.08 eve. It is currently back at 1.0925 but I believe we may see some dollar buying this week as markets flock to safe havens once more.
  24. Hi Ali, I am a bit late to this question and just noticed it but thought it may still be a good idea to answer. We have seen a massive impact on markets but I still think there is more to come. We have started to see the economical impacts on companies in their Q1 earnings reports. In my opinion we will see another fall. When that will come I dont know, but the impact of the virus on global economies seems to be too large for us to simply see a "v shaped recovery". I also believe in the short term that the U.S. shale company Q1 earning reports will have an impact in the near term. I believe many of them are announcing their earnings this week.
  25. Hi Chris. The majority of brokers will offer derivatives. My suggestion would be to check out IG markets. Or you could check out a load of the broker reviews on this site. Im sure they will be able to give you more information
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